Central Bank of Sri Lanka - Mobile Payments Guidelines No. 2 of 2011 for Custodian Account Based Mobile Payment Services

The Central Bank of Sri Lanka (CBSL), with a view of facilitating the development of emerging electronic payment mechanisms whilst promoting safety, efficiency and reliability of such mechanisms, has been engaged in providing guidance through building up a regulatory framework for innovative payment systems. As a further measure to broaden the regulatory framework relating to mobile phone based payments and provide guidance to service providers operating custodian account based mobile payment systems, the CBSL's Mobile Payments Guidelines No. 2 of 2011 for Custodian Account Based Mobile Payment Service broad principles and standards for service providers offering custodian account based mobile payment services. The guidelines are divided into several sections, and cover the following topics:

1. Regulatory and Supervisory Provisions
2. Technology and Information Security Standards
3. Operations of the Custodian Account Based System
4. Arrangements for Maintaining the Custodian Account
5. Appointing Merchants
6. Customer Protection
7. Customer Education, Grievance and Redress Mechanism
8. Technology Constraints, Security Issues, Principles and Practices

Document Details

Document Type: 
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Year of Document: 
2011
Date of Document: 
Wednesday, March 9, 2011
Language (This Document): 
English

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